Press Release Issued by CCTA

Contact Information

Issued By

WALNUT CREEK, CA – For the fifth year in a row, the Contra Costa Transportation Authority (CCTA) has been granted the highest form of recognition in the area of governmental accounting and financial reporting. The Government Finance Officers Association of the United States and Canada (GFOA) has honored CCTA with the Certificate of Achievement for Excellence in Financial Reporting for its Comprehensive Annual Financial Report (CAFR) for the year ended June 30, 2016.

CCTA has long exemplified best practice in financial management of taxpayer dollars. Since its inception, the agency has capped administrative costs at one percent of its budget annually. Additionally, CCTA has successfully leveraged other local, regional, and federal funding sources to complement the half-cent sales tax that it invests in local transportation infrastructure and programs. Over the past year, CCTA’s prudent management of public dollars has helped ensure delivery of transportation improvements that are meaningfully enhancing the quality of life for Contra Costa residents such as a new Pedestrian Overcrossing in San Pablo helping school children safely access education; completion of the Highway 4 modernization project – a six-year effort that doubled highway capacity and added a BART extension – which will help reduce traffic congestion and improve transit accessibility for more than 250,000 residents; and provided more than $16 million dollars to help maintain local streets and roads.

What is more, the Authority has made a significant commitment in recent years to further increase transparency in its operations through voluntary annual audits, which accompany audits performed by the state and federal government.

“CCTA is passionate about strategic management of our financial operations and maximizing the value Contra Costa residents receive for their transportation investment,” stated Executive Director Randy Iwasaki. “Although the transportation projects we deliver have won several awards, our staff is especially proud of being recognized as a responsible steward of taxpayers’ dollars.”

The Contra Costa Transportation Authority’s CAFR was judged by an impartial panel to meet the high standards of the program including demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the CAFR. The GFOA is a nonprofit professional association serving approximately 17,500 government finance professionals.

About The Contra Costa Transportation Authority

The Contra Costa Transportation Authority (CCTA) is a public agency formed by Contra Costa voters in 1988 to manage the county’s transportation sales tax program and oversee countywide transportation planning efforts. CCTA is responsible for planning, funding and delivering critical transportation infrastructure projects and programs that connect our communities, foster a strong economy, increase sustainability, and safely and efficiently get people where they need to go. CCTA also serves as the county’s designated Congestion Management Agency, responsible for putting programs in place to keep traffic levels manageable. More information about CCTA is available at ccta.net.

This website provides general information about the Contra Costa Transportation Authority (the “Authority”) and its outstanding bonds, notes or other obligations. The information is provided for quick reference only. It is not a summary or a compilation of all information relevant to any particular financial transactions, bonds, notes or other obligations. It does not purport to include every item that may be relevant, nor does it purport to present full and fair disclosure with respect to any financial transactions, bonds, notes or other obligations related to the Authority within the meaning of applicable securities laws and regulations.

The information presented on this site speaks only as of the date it was posted or, if such information is dated, as of its dated date. The Authority does not undertake continuously to update materials posted on this site. Developments may occur after the dated date or posted date of such information that could render it inaccurate or unreliable.

Certain information has come from other sources that are not developed by the Authority, and the Authority presents that information for convenience only. The Authority does not guarantee the accuracy of any such information and undertakes no responsibility to verify any of that information. Links to other web sites similarly are provided for convenience, and the Authority takes no responsibility for the accuracy of such information.

THIS IS NOT AN OFFER TO SELL BONDS. Information on this site is not an offer to sell securities or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

Viewers acknowledge that: (1) the Authority is not now, by this site and the information shown herein, offering any bonds, notes or other obligations, nor soliciting an offer to buy any such securities; (2) this site and the information herein shall not be construed as any description of the Authority in conjunction with any offering of bonds, notes or other obligations; (3) the information on this site is subject to change without notice, and no one shall assume from the availability of this site and the information herein that the affairs of the Authority and/or the programs of the Authority have not changed since the date of this information; (4) no representation is made as to the propriety or legality of any secondary market trading of the bonds, notes or other obligations of the Authority by anyone in any jurisdiction, and (5) the information on this site speaks as of its date, and the Authority does not hereby obligate itself in any manner to periodically or otherwise update this information or to maintain the availability of this information.

All information on this site has been obtained by the Authority from sources believed to be reliable but no representation or warranty is made by the Authority as to its accuracy or completeness. Neither the Authority, nor any of its agencies or departments nor any of its officers or employees, shall be held liable for any use of the information described and/or contained in this site. In no event shall the Authority or its agencies or departments, officers or employees be liable for any direct, indirect, incidental, special, exemplary or consequential damages however caused and on any theory of liability, whether in contract, strict liability or tort (including negligence or otherwise) arising in any way out of the use of this site, even if advised of the possibility of such damage. This disclaimer of liability applies to any and all damages and injuries, including, but not limited to those caused by any failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communication line failure, theft or destruction or unauthorized access to, alteration of, or use of any record, whether for breach of contract, tortious behavior, negligence or under any other cause of action. This disclaimer applies to both isolated and aggregate uses of the information in this site.

Any addresses or links to other web sites which may be contained in this site are given only for the convenience of the viewer. The Authority has not participated in the preparation, collection, compilation or selection of information on any such other website and assumes no responsibility or liability for the contents of such websites. Due to the dynamic nature of the Internet, resources that are free and publicly available one day may require a fee or restrict access the next, and the location of items may change as menus, homepages and files are reorganized. If you obtain any information from this site or from any source other than this site, please be aware that electronic data can be altered subsequent to original distribution. Data can also quickly become out of date. It is recommended that careful attention be paid to any data associated with a file, and that the originator of the data or information be contacted with any questions regarding appropriate use.

Choice of Law of the disclaimers above and resolution of disputes regarding such disclaimers are governed by the laws of the State of California. The laws of the State of California shall apply to all uses of this site and the information contained in this site.

Viewer Acknowledgement and Agreement. The viewer acknowledges and agrees that the information provided on this site is provided by the Authority for convenience. By viewing this site and the information contained herein, the viewer acknowledges and agrees that any use of the site and information contained herein shall conform to all applicable laws and regulations and that the viewer shall not violate the rights of any third parties and agrees to all of the terms, conditions and provisions set forth above under “Notice to Readers,” “THIS IS NOT AN OFFER TO SELL BONDS” and “Choice of Law”.